21 May 2024 Back

Position to Win. Strategic Moves for Market Success

Caroline Herrick

Head of Brand & Creative

Ponder this... Who is actually positioning your brand?

For tech companies looking to grow in competitive markets, the big question you need to ask is – who is positioning your brand. Is it you, or are you leaving it up to your customers?

Positioning is the thing that provides context for your customers. So chances are, if you’re not proactively and strategically positioning your company and your products in the minds of your customers, then you’re leaving it to them to do it. More often than not, this means they’ll make a ton of (often incorrect) assumptions of what features your product has, who it’s for, what it costs, and who you compete with.

Consider this example… I’m a company that creates wearable health technology. If I position my product as a ‘fitness tracker’, customers assume it’s a tool for monitoring physical activities like steps taken, calories burned, and heart rate. They’ll compare it to brands like Fitbit or Garmin. They’d expect a user-friendly interface, long battery life, durability and basic health metrics. However, if I position the device as a ‘comprehensive health monitoring system’, it changes customer expectations. They now anticipate advanced features such as continuous health monitoring, medical-grade data accuracy, integration with healthcare providers, and alerts for health anomalies. Alternative products would be Apple Health or Medtronic.

So you see, while both devices are wearable, portable, and designed for health and wellness, how they are positioned helps consumers make the right assumptions and comparisons around things like features, functionality, alternatives and price.

In a nutshell, correct positioning ensures your market clearly understands your value from the get-go and ensures you’re putting your best foot forward so to speak.

Make it a business decision, not a marketing one.

Developing the right positioning strategy means having the right people in the room – your CEO, plus product, sales and marketing leaders. Unlike brand positioning that focuses on how you want to be perceived, strategic positioning is about making informed, strategic moves to define the market where you are most likely to win, and clearly demonstrating your value to this market in light of the alternatives available.

Think of traditional brand positioning as painting a pretty picture of your company, whereas strategic positioning aligns that picture with market demand and competitive realities.

It’s about making smarter choices that position your company for success today – driving growth, strengthening your brand, and building a sustainable competitive advantage for the future.

Start with insight.

The key to unlocking your strategic position lies in understanding what truly matters to your ‘best’ customers, or those customers who care the most about what you do.

Find out what problems are they trying to solve and the different ways they feel they can solve these problems. What do they value the most when it comes to solving these problems? How do they perceive your ability to solve them?

Articulate your value in light of the alternatives.

Once you understand what your customers need and value, you can map how your capabilities align with these needs and values better than the alternatives.

Implementing an effective positioning strategy can make the difference between surviving and thriving in competitive markets.

But positioning isn’t a one-time effort; it’s an ongoing strategy that evolves with market dynamics and customer expectations. It’s not merely about being different; it’s about being different in a way that matters to your customers today.

If you need help to audit your current position, define your market and ensure that you're seen as the best solution to meet your customers’ needs, then please get in touch👇

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